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Monday, July 04, 2022

Housing Act: Realty sector ready with suggestions

The Act, which requires every developer to register new projects with the regulatory authority, received presidential assent last month.

By: Express News Service | Mumbai |
Updated: March 28, 2014 3:40:00 am

Even as the state government is in the process of framing rules for implementation of the Maharashtra Housing (Regulation and Development) Act, 2012, the real estate industry has put together a set of recommendations to be included in the new rules.

From including every single plot of land, construction and infrastructure related government agencies under the ambit of the Housing Regulatory Authority to setting up a single-window clearance system, the suggestions are primarily aimed at making the new law less regulatory and more of a channel for streamlining the approval process.

The Act, which requires every developer to register new projects with the regulatory authority, received presidential assent last month. Every little detail about the project, such as layout plan, carpet area, common amenities and land title, has to be put up on the website of the authority and none of the specifications can be changed without approval.

Sunil Mantri, head of National Real Estate Development Council, said that in addition to being a regulatory authority, it should also take on the role of a development body. “This would mean it would have the power to direct various agencies such as the MMRDA and BMC to speed up the approval process or provide for infrastructure in areas where new projects are coming up,” said Mantri.

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He added that the option of multi-level litigation available to consumers should be revoked once the authority was set up. “Buyers still have the option of approaching the civil, consumer or criminal courts in case of any disputes, which is not required,” he said.

Manohar Shroff, Navi Mumbai secretary of Maharashtra Chamber of Housing Industry, added that the Act should enforce mandatory sale on carpet area and fixed floor rise prices. “At present, developers charge buyers on the notional saleable area and floor rise prices are also arbitrary,” said Shroff.

Chandrashekhar Prabhu, an activist and director-general of the Maharashtra Economic Development Council, said the new Act addresses only a minuscule percent of the actual problems pertaining to housing in the state. “The sole area of focus of the Act is the transaction between a buyer and seller in only those projects that are coming up on open plots. Projects that come under government agencies such as MHADA or CIDCO, private residential or slum redevelopment projects are all out of the purview of the new law,” said Prabhu.

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